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20121201
20121231
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CNBC 3
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Search Results 0 to 2 of about 3 (some duplicates have been removed)
CNBC
Dec 13, 2012 11:00pm EST
of the earth. oil that we never dreamed we could access. we need to break the back of on opec. we need to provide for energy security. many nations we buy oil from are antithetical to the american way of democracy and religious freedom. we are fighting our enemies and it could end in the foreseeable future. but there is a second component that should have you steamed. it had me steamed almost as much as my outrage at the fiscal cliff discussion in washington. i had to use the term fiscal cliff. i hadn't used it yet in this piece. i'm talking about the squandered opportunity in natural gas. papa was quite bullish in the price of oil. it's set worldwide. chinese keep it up. we have an umbrella that makes it worth our while to extract hard to get oil. as plentiful as oil is, there is a gigantic glut of natural gas, the opposite of oil, all papas talked about. more nat gas than we know what to do with. we have no place to put it and not enough places to use it. natural gas isn't fungible. it costs fortunes to transport overseas and is barely economical when exported. the best use is in thi
CNBC
Dec 12, 2012 11:00pm EST
.s. to be north american oil independent. and fundamentally what that means is we won't be relying on opec oil imports by 2020. we're going to rely on canadian imports plus burgeoning u.s. production. that is a major major change in the united states energy picture. >> now mark, one of the things that i've learned from you is that the numbers that we often see are radically understated. the government will put out numbers. it seems like every time they put out numbers they're well behind. what is the disconnect between the numbers that we see officially and what's really going on in the oil patch? and why don't people realize how quickly this change is occurring? >> yes. the dynamic of the change is one that's easy to underestimate. in fact, eog has really underestimated the dynamic of the change. we've raised our production growth forecast for oil three times this year. and that's not because we've been coy with wall street. it's really because we've underappreciated the power of some of these plays. you mentioned earlier for example this eagle ford play, we think that just eog's net of oil d
Search Results 0 to 2 of about 3 (some duplicates have been removed)